Facebook reportedly close to setting IPO price at $38

Facebook's will start trading tomorrow, setting the stage for largest Internet IPO in history.

Here come the leaks, on what The Wall Street Journal calls "Facebook Eve." (Wish I could take credit for that).

The Journal is reporting that bankers and Facebook execs are close to setting the IPO price at $38 a a share. That would set the IPO at the top of its price range of $34 to $38. It would also give Facebook a market valuation of $104.1 billion -- more than half that of the far more profitable Google.

As the Journal cautions, this price could change.

About the author

Paul Sloan is editor in chief of CNET News. Before joining CNET, he had been a San Francisco-based correspondent for Fortune magazine, an editor at large for Business 2.0 magazine, and a senior producer for CNN. When his fingers aren't on a keyboard, they're usually on a guitar. Email him here.

 

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